Former Suncorp executive joins APRA


The Australian Prudential Regulation Authority (APRA) has appointed former Suncorp Life Australia and New Zealand chief executive, Geoff Summerhayes, as a full-time member from 1 January 2016 up to and including 31 December 2020.
Federal Treasurer, Scott Morrison, made the announcement today, adding that Helen Rowell, who joined APRA in 2002, has been appointed as the full-time deputy chair for a term up to and including 30 June 2018.
APRA welcomed the appointments, with chairman, Wayne Byres saying Summerhayes would bring commercial acumen and experience to the position.
"I look forward to working with Helen and Geoff to ensure APRA continues to perform its responsibilities effectively and efficiently, for the benefit of the Australian community," he said.
Summerhayes announced in June that he would depart Suncorp Life in September after commencing the role in May 2008.
He has also held senior roles in the Financial Services Council, National Australia Bank and MLC, and Lend Lease and has more than 20 years of property and financial services experience.
He will have particular focus on APRA's activities in general, life, and private health insurance, APRA said.
Rowell will continue to look after superannuation matters within APRA for the duration for her five-year term.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.